re: Ann: Forthcoming Release of Shares from E...
Bad news is when you have 30m escrow shares and you have average volume of 346,360.
Today 456,042 were sold on a positive days trade. Obviously volumes can be manipulated by positive announcements however with 30m shares able to be sold shortly, that is a lot of volume to manipulate!
Look at TXN (oil stock)... huge overhang from an 'over allocated' SPP and the SP, with nothing but positive announcements went from 95cents to 64cents (below the last SPP figure of 65cents). This is despite a price target of $1.64 and more upside than the blue sky.
Long story short: the scale of the overhang combined with natural instinct to take profit = potential carnage.
Interesting times ahead. I wait with great anticipation
CLR Price at posting:
$1.85 Sentiment: None Disclosure: Not Held
